STAR Financial Bank Cuts Stock Position in Apple Inc. (NASDAQ:AAPL)

STAR Financial Bank trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 15.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,524 shares of the iPhone maker’s stock after selling 3,384 shares during the quarter. Apple comprises 2.9% of STAR Financial Bank’s portfolio, making the stock its 4th biggest holding. STAR Financial Bank’s holdings in Apple were worth $4,316,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. International Assets Investment Management LLC raised its position in shares of Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after buying an additional 93,886,664 shares during the last quarter. Strategic Financial Concepts LLC raised its stake in shares of Apple by 14,145.8% in the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after acquiring an additional 7,558,826 shares during the last quarter. Pathway Financial Advisers LLC increased its holdings in shares of Apple by 22,870.6% in the third quarter. Pathway Financial Advisers LLC now owns 5,590,588 shares of the iPhone maker’s stock valued at $1,302,607,000 after purchasing an additional 5,566,250 shares in the last quarter. William Blair Investment Management LLC bought a new stake in shares of Apple during the second quarter worth $834,368,000. Finally, National Pension Service grew its position in shares of Apple by 14.0% during the 3rd quarter. National Pension Service now owns 27,882,996 shares of the iPhone maker’s stock worth $6,496,738,000 after buying an additional 3,416,922 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on AAPL shares. The Goldman Sachs Group cut their price target on Apple from $286.00 to $280.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. UBS Group restated a “neutral” rating and set a $236.00 target price on shares of Apple in a report on Monday, December 2nd. Monness Crespi & Hardt upped their price target on Apple to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price target on shares of Apple in a research report on Tuesday, January 21st. Finally, Barclays dropped their price target on Apple from $184.00 to $183.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 22nd. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.05.

Read Our Latest Research Report on AAPL

Apple Stock Performance

NASDAQ AAPL opened at $237.62 on Friday. The firm’s fifty day moving average price is $241.37 and its two-hundred day moving average price is $230.81. The stock has a market cap of $3.57 trillion, a PE ratio of 39.08, a PEG ratio of 2.19 and a beta of 1.20. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10.

Apple (NASDAQ:AAPLGet Free Report) last issued its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. On average, equities analysts expect that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 13th. Investors of record on Monday, February 10th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.42%. Apple’s dividend payout ratio is presently 16.45%.

Apple Profile

(Free Report)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

See Also

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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